If Supply Decreases, Ceteris Paribus, the Quantity Exchanged Will Be

question 86

Multiple Choice

If supply decreases, ceteris paribus, the quantity exchanged will be ______ at the new market equilibrium point.

• A) larger
• B) smaller
• C) the same
• D) either larger or smaller

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Definitions:

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

Power

The ability or capacity to direct or influence the behavior of others or the course of events.

Value System

A set of consistent ethics, principles, and morals that guide an individual's or group's behavior and decisions.

Perpetuate

To make something continue indefinitely; to cause to last or to be remembered or celebrated for a long time.